UBS - Dude, Where's Your Bonus ?

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The New York Post reports that that’s the question bankers at UBS have been asking themselves over the past few weeks.

The newspaper says that while most of their colleagues on the Street either have received - or at least have been informed what their year-end pay might look like - UBS bankers remain in the dark about bonuses.

UBS is said to be at least two weeks behind in handing out bonuses.

Not that bankers at the firm will be overjoyed once they get them - because the Post says that bonuses will be as much as 40% to 50% less than in prior years.

An insider told Here Is The City, however, that bonuses (and promotions) will be communicated on March 6th, and that the bank's 2012 bonus pool is actually only 7% down. The delay on bonuses this year may also have been complicated by the bank's recently-announced radical investment bank restructuring.

Finally, The Financial Times reports that the banker who once supervised Kweku Adoboli, the rogue trader who cost UBS $2.3bn, is in line to become the head of global equities at Getco when it completes its takeover of Knight Capital, the high-frequency trading firm said on Wednesday.

John DiBacco, who left UBS after Adoboli’s crimes came to light in September 2011, was hired by Getco last year since when he has led its US equities business. DiBacco has said he disagreed with UBS’s assessment of his performance.

UBS bonuses caught in wringer

Ex-UBS Adoboli supervisor goes to Getco (subscriber content)

image: © Jan Krömer

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